Infini Resources (ASX: I88) has completed unmanned aerial vehicle (UAV) magnetic surveys revealing substantial fault structures and associated magnetic anomalies coinciding with recently announced record uranium-in-soil results at its Portland Creek project in Canada.
The company says the surveys reveal multiple large-scale structures and magnetic anomalies identified within a highly-prospective 3.2km-long radiometric corridor that exhibit a strong correlation with existing uranium mineralisation. It includes a 74,997 parts per million (7.5 per cent) uranium oxide sample that kickstarted Infini’s recent 613 per cent share price run from a low of 14.5c on June 26 to an intraday high of $1.035 on July 16.
Management believes a collisional tectonic zone (primary structure) with a network of interpreted north-east to south-west-trending splay faults (secondary structures) may be controlling its high-grade 235m-by-100m soil anomaly. The primary fault is strongly demagnetised and represents an excellent target along the eastern edge of Infini’s Talus prospect.
Additionally, multiple UAV magnetic anomalies identified within the existing 3.2km radiometric footprint and close to the high-grade soil anomaly at Talus are interpreted as undercover primary uranium targets.
The company will now attempt to narrow down where the primary uranium mineralisation at Portland Creek is located. It says a distinct drill target corridor is now forming through the high-grade soil anomaly and demagnetised corridor directly adjacent to it and it is primed for diamond drill-testing in a program that could begin as soon as this year.
The really exciting observation though is seeing secondary faults underlying the high-grade soil anomaly at Talus, and a network of North-South trending ovoid proximal magnetic anomalies which may signify undercover uranium mineralisation pods at depth given their coincidence with both anomalous soils and biogeochemistry.
Infini Resources managing director Charles Armstrong
Field crews are mobilising back to site mid-next month to complete a much bigger geochemical sampling program, which management says will assist it to refine existing anomalies and potentially identify new ones to be fed into planning for an extensive diamond drill program.
The company’s 100 per cent-owned Portland Creek project covers an area of 149 square kilometres through ancient Precambrian rocks and features the extensive regional uranium anomaly that was identified through a Newfoundland Government stream sediment sampling program more than 50 years ago.
The main Talus prospect adjacent to the remarkable soil samples confirmed last month is about 1600m long, with the other two lower-order targets sitting within about 700m of the southern extremity of the main trend.
The project sits inshore from the west coast of Newfoundland and Labrador – a small economy historically fuelled by whaling and fishing. In more recent times, it has been dominated by resource mining, particularly Rio Tinto’s Carol Lake and Cliff Natural Resources’ Scully iron ore projects.
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